Brazil defense minister 'certain' of Boeing-Embraer tie-up

Reuters Staff

1 Min Read

RIO DE JANEIRO (Reuters) - Brazil’s Defense Minister Joaquim Silva e Luna said on Tuesday he is “certain” that planemaker Embraer (EMBR3.SA) will complete a deal for a tie-up with Boeing Co (BA.N) “this year” and that the talks are in “advanced stages.”

The E2-190 jet is seen during a ceremony as Embraer delivers first jet to Norway's Wideroe at the company's headquarters in Sao Jose dos Campos, Brazil April 4, 2018. REUTERS/Roosevelt Cassio

The Boeing and Embraer partnership would create a new company in which the U.S. planemaker would have an 80.01 percent stake and the Brazilian firm 19.99 percent, Estado de S.Paulo newspaper reported last month, citing unnamed sources. That report added that this was a model supported by the Brazilian government.